Introduced at Baselworld 2012 in March, the Omega Speedmaster Racing is a more affordable version of the brand's Co-Axial Speedmaster. Instead of using Omega's new in-house manufacture Co-Axial caliber 9300 which we discussed here, the Speedmaster Racing is powered by another in-house chronograph movement - caliber 3300.

Caliber 3300 is considerably more affordable than the 9300, yet it still features Omega's proprietary Co-Axial escapement with 3 levels, a Si14 silicon balance spring, NIVACHOC shock absorber and a column-wheel chronograph mechanism. It has 31 jewels, runs at 4Hz and has a power-reserve of 52-hours. Moreover, it is an officially certified chronometer.

The stainless steel case measures 40 mm in diameter by 15.05 mm in height and has the signature Speedmaster shape. The case flank edges and lugs, the bezel edges, the pushers and crown and the bracelet center links are polished while the rest of the watch is brushed. Lugs and bracelet links and screwed-in. The steel bracelet is 19 mm between the lugs and tapers to 18 mm at the clasp (a rubber strap is optional for $100 less). Stainless steel bezel with matte black aluminum tachymeter ring with scaling that matches the dial color.

The dial comes in a variety of colors (see below). Subdials feature triangular textured "Clou de Paris." Blackened, rhodium-plated hands and luminous hour and minute hands; luminous hour indexes. Functions include hours, minutes, small seconds at 9 o'clock and the date (displayed at 6 o'clock and can be corrected using the included tool to adjust the button at 10 o'clock). Central chronograph seconds hand, the 30-minute recorder at 3 o'clock and 12-hour counter at 6 o'clock.

The sapphire crystal has a double anti-reflective treatment and is slightly domed, but does not protrude out like the Speedmaster we featured here. Screw-in caseback stamped and polished with seahorse medallion. Water-resistance 100 meters. The price is $4,800.

The Omega Speedmaster does not technically feature an in-house manufacture movement, it does, however, have the brand's famous Co-Axial chronometer movement, made in-house, exclusively for Omega - all for under five grand. That's more than three grand less than the price of the 9300 based Speedmaster.